- Spiniello Companies
- 2026
- 4
- 2
- 50.00%
- $61,514,790
- 10.90%
- 0.45%
- 0.04%
- $73,203,137

Spiniello holds a substantial **$326M** remaining backlog, supported by recent 2026 awards totaling **$61.5M** across two large sewer rehabilitation projects with 120-month durations. Execution on active contracts such as the **$31.3M** North Outfall and **$30.2M** Central Business District projects should generate steady progress billings and positive operating cash flow through mid-year.
Medium-term Outlook (6-12 months)
Continued ramp-up on 2025-2026 wins valued at nearly **$160M** combined will sustain revenue recognition, with multiple 120-month sewer projects providing predictable workload into 2027. Bidding momentum at a 50% success rate positions the firm to replenish backlog and maintain utilization above current levels.
Key Risk Period
The 12- to 24-month window presents elevated risk as several long-duration contracts begin to wind down without clear visibility into replacement awards, potentially creating cash flow gaps if new low bids decline. Concentration in extended 120-month sewer rehabilitation work also heightens exposure to payment delays and retention releases.
Recommendations
Prioritize aggressive bidding to secure **$80M+** in new awards over the next two quarters while closely monitoring working capital on long-duration projects. Implement enhanced cash flow forecasting tied to milestone billings to mitigate timing risks in the medium term.
- Nadeau Trunk Sewer Rehabilitation
- Los Angeles County
- $1,094,988
- 6/2/26
- North Outfall Sewer Rehabilitation Unit 33 Magnolia Blvd Woodman Ave Rebid
- Los Angeles
- $31,314,495
- 5/6/26
- Vermont Avenue East Primary Sewer Rehabilitation Florence 83rd ReBid
- Los Angeles
- $10,593,359
- 3/18/26
- SZC13940 Central Business District Sewer Rehabilitation Unit 12 Alameda 18th
- Los Angeles
- $30,200,295
- 1/14/26
- North Outfall Sewer Rehabilitation Unit 33 Magnolia Blvd Woodman Ave Rebid
- Los Angeles
- $31,314,495
- 07/05/26
- 120
- 0%
- -
- $31,314,495
- SZC13940 Central Business District Sewer Rehabilitation Unit 12 Alameda 18th
- Los Angeles
- $30,200,295
- 03/15/26
- 120
- 90.0%
- $7,550,074
- $3,020,029
- SZC13940 Central Business District Sewer Rehabilitation Unit 12 Alameda 18th
- Los Angeles
- $34,436,460
- 01/28/24
- 1100
- 80.5%
- $939,176
- $6,730,763
- $8,489,250
- $41,065,287

